Israel’s economy recovered sharply in the first quarter of 2024 after a steep contraction in late 2023 that followed the start of conflict in Gaza with Hamas last October, Reuters reports.

The Central Bureau of Statistics said in an initial estimate that gross domestic product (GDP) grew an annualised 14.1pc in the January to March period, just shy of a Reuters consensus of 15.3pc.

Growth was led by a rebound in consumer spending and renewed investment, particularly in residential building.